Posted AT 9:23 AM EST on 19/08/08
Venezuela to push OPEC cut if oil falls
GUANTA, Venezuela — Venezuela will propose an oil production cut at the next OPEC meeting in September if prices continue to fall, energy minister Rafael Ramirez told Reuters Tuesday.
Crude prices have fallen more than $30 (U.S.) since their peak near $150 per barrel earlier this year on worries that a slowdown in the U.S. economy could reduce global energy demand.
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